The Tony Elumelu Foundation has hosted Europe's leading financial institutions and Think Tanks in the Belgian capital Brussels with an aim of fostering economic relations between Africa and the European Union. At a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the
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The Bank of Uganda (BoU), the regulator of Uganda’s banking industry has spoken out for the first time on ongoing investigations into the alleged mismanagement of PostBank. In a statement dated April12, 2019, the Central Bank acknowledges that following a petition to the State House Anti-Corruption Unit, by a whistleblower,
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Diamond Trust Bank (DTB) Uganda recorded a net profit of Shs18.4bn in 2018, up from Shs15bn registered in 2017. This represents an increase of 22.7%. The bank’s financial statements for the year ended 31st December 2018 released yesterday indicate that the increase in profit was due to the reduction in
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The Auditor General (AG) has rejected a request from Deputy Governor Bank of Uganda, Dr. Louis Kasekende to carry a fresh inquest on the Shs478 billion the Central Bank is reported to have injected into Crane Bank after the takeover. Responding to Kasekende’s letter dated March 11, 2019 requesting the
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The Inspector General of Government, Justice Irene Mulyagonja has cleared the Deputy Governor, Bank of Uganda (BoU) Dr. Louis Kasekende and the former Executive Director, Banking Supervision (BoU), Justine Bagyenda (in featured photo) have been cleared of illicit accumulation of wealth after investigations revealed that the wealth of the two
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The Bank of Uganda (BoU) has said economic activity seems to be softening, something that could negatively affect the projected economic growth. The economy is projected to grow at around 6-6.5% in 2019/20. However, BoU’s Composite Index of Economic Activity (CIEA) and other high frequency indicators of economic activity point
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Uganda's Central Bank has agreed to refund the money moneybags, Sudhir Ruparelia deposited in forex bureaus. Sudhir had accused the Central Bank of holding onto the money in question in a bid to coerce him into negotiating a case where he is accused of purportedly causing the collapse of Crane
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Another dfcu bank boss has resigned leading to more speculation about the bank's stability. Dr. Winifred Tarinyeba Kiryabwire, who has been a director on the board of Dfcu bank has left her post. Reports indicate that Winifred resigned due to commitments she is due to undertake in another entity. She
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The Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has expressed concern over the high interest rates charged by commercial banks even when the Central Bank Rate (CBR), a benchmark lending rate for the banks has been below 10% for a long time. Currently, the average lending rate charged by
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dfcu Bank has today joined Uganda Red Cross Society in partnership with the Ministry of Education and Sports to launch a campaign dubbed ‘Keep a Girl in school’ that will enable thousands of school going girls gain access to knowledge and support in ‘Menstrual Hygiene Management’. This was unveiled at
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